In a mixing bowl combine milk, water, hot sauce, and salt. Marinade fish in liquid for 30 minutes at room temperature.
Bring a heavy bottom pan to medium heat & add oil. Remove catfish from marinade and crust the top side of the fish with peanuts and sear one top side for 4 minutes. Turn the fish over and continue to cook for 2 minutes or until it just starts to flake.
For the fried rice
Place a heavy bottom skillet on the stove, add oil and bring to medium heat.
Add rice and sauté for 2 minutes.
Add remaining ingredients, except for chopped peanuts, and cook until collard green liquid is mostly evaporated.
Remove from pan and place on serving plate. Garnish with chopped peanuts.