In a small saucepan, melt the 1/2 cup of unsalted butter over low heat. Once melted, set it aside to cool slightly.
In a large mixing bowl, whisk together the 1 3/4 cups of milk, 1 teaspoon of vanilla extract, and 2 large eggs. Once combined, add the melted butter and mix until fully incorporated.
In a separate bowl, combine 2 cups of all-purpose flour, 4 teaspoons of baking powder, 1/2 teaspoon of salt, and 1 tablespoon of granulated sugar. Whisk together until well blended.
Pour the dry ingredients into the bowl with the wet ingredients. Gently stir the mixture until just combined. Be careful not to overmix; a few lumps are perfectly fine.
Gently fold in 1 cup of mini chocolate chips until they are evenly distributed throughout the batter.
Preheat your waffle iron according to the manufacturer's instructions. If necessary, lightly grease it with cooking spray or a small amount of melted butter.
Once the waffle iron is ready, pour the appropriate amount of batter into the center (usually about 1/2 to 3/4 cup, depending on your waffle iron). Close the lid and cook until the waffles are golden brown and crisp. This typically takes about 4-5 minutes.
Carefully remove the waffles from the iron and serve them hot! Top with your favorite toppings such as whipped cream, syrup, or fresh fruit for an extra special treat.