Preparation: Begin by preparing the Marshmallow Buttercream. While the buttercream cools, adjust the oven rack to the lower-middle position and preheat the oven to 325°F. Grease three 8-by-3-inch cake pans and line them with parchment paper. If using fewer pans, the remaining batter can rest at room temperature for up to 3 hours.
Dry Ingredients: Sift the cake flour into a large bowl. If using cup measures, spoon the flour into the measuring cups and level it off before sifting. Set aside.
Creaming Butter and Sugar: In the bowl of a stand mixer, combine the butter, coconut oil, sugar, baking powder, baking soda, and salt. Mix on low speed until moistened. Increase to medium speed and beat until fluffy, about 5 minutes. Scrape the bowl halfway through for even mixing.
Add Egg Whites and Extracts: With the mixer running on medium, add the egg whites one at a time. Then, mix in the vanilla and almond extracts.
Incorporating Flour and Buttermilk: Reduce the mixer speed to low. Alternately add the flour mixture and buttermilk in three parts, starting and ending with the flour. Mix until just combined after each addition.
Dividing Batter: Evenly distribute the batter into the prepared pans, about 22 ounces per pan. Smooth the tops with a spatula.
Baking: Bake for approximately 40 minutes, or until the edges are pale golden and a toothpick inserted into the center comes out with a few crumbs. The tops should spring back slightly when touched.
Cooling: Cool the cakes in their pans for 90 minutes. Loosen the edges with a knife and invert onto a wire rack. Peel off the parchment paper and let cool completely.
Assembly: Once cooled, crumb-coat the cakes and frost with Marshmallow Buttercream. Under a cake dome, the frosted cake can be stored at room temperature for up to 24 hours.