Grease a 9 x 13 inch baking dish with butter or cooking spray. In a small bowl mix the powdered sugar with ¼ cup of the cocoa powder and lightly sift a thin coating over the greased baking dish.
Add the gelatin and half a cup of cold water to the bowl of a stand mixer and let it sit (without stirring) while you prepare the simple syrup. This allows the gelatin to 'bloom.'
In a saucepan combine the remaining water and granulated sugar. Cook over medium-high heat stirring constantly until the mixture reaches at least 240ºF and comes to a rolling boil. Then, take the syrup off the heat.
Add the remaining ½ cup cocoa powder to the gelatin mixture. With the mixer on low, carefully pour the hot syrup into the mixing bowl a little at at time.
Increase the mixer speed to high and beat for about 20 minutes until the mixture becomes lighter in color, thick, fluffy and glossy.
Spread the marshmallow mixture evenly into the prepared baking dish with a spatula that has been oiled with cooking spray.
Dust the top of the marshmallow mixture with more cocoa and powdered sugar mixture.
Let sit at room temperature for at least 4 hours before slicing into 6 columns and 8 rows with a sharp knife that's been oiled with cooking spray.
Dip all sides of each marshmallow into the cocoa and powdered sugar mixture to reduce stickiness. Slice into mini marshmallows if desired. Store in an airtight container at room temperature.
Notes
Invest in a candy thermometer.
The marshmallows may not set properly if you turn off the heat for the sugar syrup before it reaches at least 240ºF.
Try not to rush the whipping time as this is what creates the fluffy texture.
Allow the marshmallows to fully set before slicing if you want clean edges.
Lightly dust your knife with powdered sugar to prevent sticking while cutting.
Store chocolate marshmallows at room temperature in an airtight container for up to 3 days for best texture and flavor. Avoid refrigerating as moisture can affect their consistency. Freezing is not recommended.