In a large mixing bowl, whisk together the dry ingredients (flour, baking powder, sugar, and salt).
Cut the cold butter into half inch cubes and use a pastry cutter to cut the butter into the flour mixture, until the butter pieces are no larger than small peas. Pour the buttermilk over the flour-butter mixture and use a fork to mix the buttermilk in. Continue stirring until the a crumbly dough begins to form.
Pour the dough onto a floured work surface and knead 2-3 times until the dough comes together.
Roll out the biscuit dough to a 3/4 inch thick rectangle, roughly 9 x 3 inches. Beginning on the short end, fold the left third of the dough over the center, and the right third of the dough over the center (just as you would fold a letter).
Turn the folded rectangle of dough 90 degrees, then re-roll into a 3/4 inch thick rectangle, roughly 9 x 3 inches. Repeat folding. Repeat folding and rolling one additional time (for a total of three folds and rolls). The folding and rolling ensures that the butter is distributed throughout the flour mixture to create flaky layers and a high rise.
Roll the biscuit dough to a rectangle 3/4 inch thick and use a 2-inch round cookie cutter or biscuit cutter to cut the biscuit dough. Place the cut biscuits on the lined baking sheet. Reroll the scraps to 3/4 inches thick and cut out additional biscuits, until all of the dough is used up.
Bake the biscuits on the prepared cookie sheet for 15-25 minutes, or until the tops are golden brown.