Preheat oven to 350 F. Line two 8 inch cake pans with parchment paper, and grease and flour the sides.
Make Vegan Buttermilk: Combine 1 cup of soy milk with 1 tablespoon of lemon juice or white vinegar. Allow to sit for 10 minutes. After 10 minutes the milk will thicken and curdle.
In another bowl, sift together the flour, cocoa powder, baking powder, and salt.
In a large mixing bowl beat together the coconut oil, sugar, and vanilla with an electric mixer for 30 seconds or until well combined.
Beat in beetroot powder, and vinegar until well combined.
Alternately, add flour mixture, and vegan buttermilk, beating on low to medium speed until just combined.
Pour batter evenly into the two prepared cake pans. Bake for 30-35 minutes or until toothpick inserted into the center comes out clean.
Cool the cake in the pan for 10 minutes. Carefully, remove the cakes from the pan, by running a knife along the sides, and inverting the cake so that it gently releases from the pan. Allow the cakes to cool completely on a wire rack. Note: Reserve some of the cake crumbs to decorate the top and sides of the cake.
While cakes are cooling make the vegan cream cheese frosting.
When frosting is ready, add a thick layer of frosting to the top of the first layer of cake. Refrigerate for 10 minutes. This will allow the first layer of frosting to set.
Place the other cake on top and complete your frosting. Keep the cake in the refrigerator until ready to serve.