Combine the graham crackers, ¼ cup confetti sprinkles and butter. Line the bottom of a 9-inch springform pan with parchment paper. Press the mixture into the bottom and sides of the pan. Bake at 325F for 10 minutes.
Cover the bottom and sides of the pan with aluminum foil.
Place the cream cheese, granulated sugar, brown sugar and flour into a large bowl and beat with an electric mixer on low speed until well combined.
Add the eggs one at a time, beating on low speed. Add the sour cream, vanilla extract and confetti sprinkles and beat until well combined.
Spread enough cheesecake filling into the pan to cover the graham cracker base. Arrange 8-10 doughnuts on top, then pour the remaining filling on top.
Place the pan into a larger dish and fill the dish with enough water to reach halfway up the cheesecake pan. Bake at 300F for 1 hour 35 minutes. Turn off the oven and leave the cheesecake in the over for 20 minutes. Crack the oven door open and leave for an additional 20 minutes. Remove the cheesecake from the oven and chill in the fridge.