A rotating cutting tool that is adapted to be internally cooled by cryogenic fluid, the rotating tool comprising: a tool body (54; 80) having a generally cylindrical outer shape; a plurality of flutes (57; 102; 114) formed on a front part of the cutting tool and a cutting edge (78; 104) formed on an outer edge of each of the plurality of flutes (57; 102; 114) for cutting a workpiece; an internal cold flow delivery path (52; 96) for each of the cutting edges (78; 104) for cryogenic coolant in the cutting tool, said cold flow delivery paths (52; 96) being in proximity to the cutting edges (78; 104) on the plurality of flutes (57; 102; 114); an internal return path (59; 98) for cryogenic coolant that is downstream from the cold flow delivery paths (52; 96); characterized by a coolant cavity (72; 89) formed in the cutting tool for supplying cryogenic coolant to the internal cold flow delivery paths (52; 96); - wherein the coolant cavity is positioned at the front of the cutting tool and the cold flow delivery paths are in proximity to the cutting edges that are formed on the front part of the cutting tool or - wherein the coolant cavity is positioned in the middle of the cutting tool and the cold flow delivery paths are in proximity to the cutting edges that are formed on the outer circumference of the cutting tool; an insulating sleeve (70; 87) mounted in a blind bore (55; 88) in the cutting tool body (54; 80), wherein the insulating sleeve (70; 87) prevents heat gain by the cryogenic coolant that flows through the insulating sleeve (70; 87) into the cutting tool body (54; 80), and wherein the coolant cavity (72; 89) is located between an end of the insulating sleeve (70; 87) and an end of the blind bore (55; 88); an exhaust port (68; 99) coupled to the internal return path (59; 98) for exhausting cryogenic coolant to atmosphere, the exhaust port (68; 99) being remote from the cutting edges (78; 104), whereby the cryogenic coolant can be exhausted away from the cutting edges (78; 104) and away from a workpiece engaged by the cutting edges (78; 104) so that the cryogenic coolant does not cool the workpiece. a tool body (54; 80) having a generally cylindrical outer shape; a plurality of flutes (57; 102; 114) formed on a front part of the cutting tool and a cutting edge (78; 104) formed on an outer edge of each of the plurality of flutes (57; 102; 114) for cutting a workpiece; an internal cold flow delivery path (52; 96) for each of the cutting edges (78; 104) for cryogenic coolant in the cutting tool, said cold flow delivery paths (52; 96) being in proximity to the cutting edges (78; 104) on the plurality of flutes (57; 102; 114); an internal return path (59; 98) for cryogenic coolant that is downstream from the cold flow delivery paths (52; 96); characterized by a coolant cavity (72; 89) formed in the cutting tool for supplying cryogenic coolant to the internal cold flow delivery paths (52; 96); - wherein the coolant cavity is positioned at the front of the cutting tool and the cold flow delivery paths are in proximity to the cutting edges that are formed on the front part of the cutting tool or - wherein the coolant cavity is positioned in the middle of the cutting tool and the cold flow delivery paths are in proximity to the cutting edges that are formed on the outer circumference of the cutting tool; - wherein the coolant cavity is positioned at the front of the cutting tool and the cold flow delivery paths are in proximity to the cutting edges that are formed on the front part of the cutting tool or - wherein the coolant cavity is positioned in the middle of the cutting tool and the cold flow delivery paths are in proximity to the cutting edges that are formed on the outer circumference of the cutting tool; an insulating sleeve (70; 87) mounted in a blind bore (55; 88) in the cutting tool body (54; 80), wherein the insulating sleeve (70; 87) prevents heat gain by the cryogenic coolant that flows through the insulating sleeve (70; 87) into the cutting tool body (54; 80), and wherein the coolant cavity (72; 89) is located between an end of the insulating sleeve (70; 87) and an end of the blind bore (55; 88); an exhaust port (68; 99) coupled to the internal return path (59; 98) for exhausting cryogenic coolant to atmosphere, the exhaust port (68; 99) being remote from the cutting edges (78; 104), whereby the cryogenic coolant can be exhausted away from the cutting edges (78; 104) and away from a workpiece engaged by the cutting edges (78; 104) so that the cryogenic coolant does not cool the workpiece.