Line a baking sheet with parchment paper.
Combine chocolate chips, peanut butter, and butter in a sauce pan over low heat. Heat until chocolate has melted and sauce is creamy, about 3 minutes.
Empty ritz bits into a bowl and pour chocolate sauce over the bits; toss to coat.
Add powdered sugar, cover the bowl and shake. Alternatively you can use a resealable bag.
Spread out bits on the prepared baking sheet and allow to cool.
