If using an electric miniature donut maker, warm the donut maker according to the manufacturer’s directions. Otherwise, preheat your oven to 300°F, grease a donut pan (full-sized or miniature) and set it aside.
Place all of the ingredients in the order listed in a blender and blend until smooth (alternatively, you can whisk the ingredients together by hand, but the batter will not be as smooth). The batter will not be pourable, but will be very soft and easily scooped.
If using an electric donut maker, fill the bottom of the donut maker wells completely with batter, then close and secure the lid. Allow to bake for 3 1/2 minutes.
Open the donut maker and remove the donuts with the remover tool included in the package. Transfer the donuts to a wire rack to cool completely, and repeat with the remaining batter.
If using the oven, fill the prepared donut wells about three-quarters of the way full.
Place in the center of the preheated oven and bake for 8 to 12 minutes (depending upon size), or until the donuts are just set and very lightly browned. Remove the pan from the oven and allow the donuts to sit in the pan for about 5 minutes or until they begin to shrink away from the sides of the pan. Invert onto a wire rack to cool completely.