Line two baking sheets or large trays with parchment paper.
Place the raw cashews in a food processor. Process for about 1 minute, or until they have a fine, meal-like consistency. Avoid processing so long that they turn into cashew butter.
Add the vanilla protein powder, honey, 2 tablespoons melted coconut oil, peppermint extract, vanilla extract, and salt.
Process until the ingredients come together into a sticky dough. Scrape down the sides of the food processor as necessary.
Transfer the mixture to a bowl and gently fold in the mini chocolate chips until evenly distributed.
Using a small cookie scoop, portion the mixture and roll it between your palms to create approximately 1-inch balls.
Arrange the Mint Chocolate Chip Protein Balls on the parchment-lined baking sheet and freeze for 15–20 minutes, or until firm.
Meanwhile, place the white chocolate or candy melts in a microwave-safe bowl with 1 tablespoon coconut oil. Microwave in 20-second intervals, stirring thoroughly between each interval, until completely smooth.
If using white chocolate, stir in a small amount of green food coloring, if desired. Use an oil-based coloring formulated for chocolate for the most reliable result.
Using a fork, lower each chilled protein ball into the melted coating. Turn gently until covered, then lift and allow excess coating to drip back into the bowl.
Return each coated ball to the parchment-lined tray and immediately sprinkle with additional mini chocolate chips.
Refrigerate for approximately 10 minutes, or until the coating has completely set.
Enjoy chilled or allow the protein balls to sit briefly at room temperature before serving.