Preheat the oven to 175°C (350°F). Thoroughly grease and flour a 10-cup capacity Bundt pan.
Sift together the flour, baking soda, baking powder, salt, ginger, cinnamon, cloves, and nutmeg in a medium mixing bowl.
In a separate large bowl, whisk the eggs and granulated sugar until the mixture is pale and well-aerated.
Slowly whisk in the molasses and extra virgin olive oil until fully emulsified and smooth.
Gradually incorporate the dry ingredients into the wet mixture, stirring until just combined to avoid gluten over-development.
Carefully pour the boiling water into the batter, whisking constantly until the batter is thin and homogeneous.
Transfer the batter to the prepared Bundt pan, ensuring even distribution.
Bake for 50 to 60 minutes, or until a cake tester inserted into the center comes out clean.
Allow the cake to cool in the pan for 15 minutes before inverting onto a wire cooling rack.
Cool completely to room temperature before dusting with powdered sugar and serving.