Cover dried cherries with warm water and set aside to plump.
Preheat oven to 325 degrees F. Prepare 12-cup bundt pan (or 2 loaf pans) by brushing lightly with canola oil or cooking spray.
Sift cocoa powder, flour, baking powder, and salt in a medium bowl. Set aside.
Combine butter and sugar in the bowl of a stand mixer and using the paddle attachment, mix on low for 1 to 2 minutes. Increase speed to medium and mix for about 5 minutes more to cream the butter. The mixture will become smooth and pale in color. Add eggs, one at a time, mixing each one fully before adding another. Scrape down the sides of the bowl with a rubber spatula as needed. Next, add alternating portions of the dry ingredients and buttermilk, one quarter at a time. Remove from the mixer and scrape down the sides.
Drain the plumped cherries and set aside 8 for garnish. Add the remainder to the batter. Pour in the chocolate chips and fold the ingredients in with a rubber spatula. Spread the batter evenly into the prepared pan(s). Bake cake on center rack of oven for 1 ½ to 2 hours, then test the center with a skewer to make sure it’s done. Let cool on a wire rack for about an hour.
Run a sharp knife around the sides of the pan to release the cake. Place a serving plate, upside down, on top of cooled bundt pan, and invert the pan to remove the cake. Let the cake cool completely. Drizzle chocolate glaze over the top of the cake, allowing the glaze to run down the sides. Top with the remaining plumped cherries and serve. The cake will last for 2 days in an airtight container wrapped with plastic wrap. Store at room temperature.
Pour cream into a medium saucepan and place over medium heat. As soon as cream begins to boil, turn off the heat and add chocolate chips. Mix constantly with a whisk until chocolate has melted. Let cool slightly.