Lay our biscuit dough on a baking sheet lined with parchment paper or a silicone mat. Use a small circle cutter to cut out the center of each biscuit and make a donut. Keep the centers to make donut holes!
DEPENDING ON YOUR AIR FRYER MODEL: Spray air fryer basket with olive oil. For some air fryer brands, Pam and other non-stick cooking sprays will damage the basket. Check your owner's manual for more information.
Place donuts into the air fryer basket in a single layer. Place the basket in the air fryer and cook for 2 minutes. Flip and cook for another 2 minutes. Repeat with remaining donuts and donut holes until all the dough is cooked.
Lay cooked donuts and donut holes back onto the baking sheet.
In a shallow bowl, stir together sugar and cinnamon until evenly combined.
Brush one donut all over with melted butter, and then roll in cinnamon sugar to coat. Repeat with remaining donuts. Serve warm.