A liquid nitrogen-based cooling system features a cooling circuit and a liquid nitrogen-based heat sink. Heat absorbed by fluid flowing in the cooling circuit is subsequently absorbed by liquid nitrogen within the heat sink, which causes the liquid nitrogen to vaporize. The vaporized nitrogen is condensed back to liquid form, e.g., by means of a helium-based cryo-refrigeration system. The heat-sink includes at least a first vessel that contains the liquid nitrogen, with the cooling circuit including a series of coils passing around the first vessel in heat-exchanging contact with an exterior surface thereof so that heat can be transferred into the liquid nitrogen. The first vessel and coils may be contained within a second, outer vessel that minimizes heat transfer from the ambient environment to the fluid flowing in the cooling circuit and the liquid nitrogen within the first vessel.