Abstract: A cold beverage dispensing system for preparing a cold beverage from cold water and a beverage powder. Water is chilled and introduced to a mixing tube or beverage blender. Powder is simultaneously introduced to the beverage blender or mixing tube at a predetermined rate according to preset parameters. A mixing device in the mixing tube dissolves the powder into the cold water as it traverses the mixing tube. A nozzle dispenses the cold beverage into a cup or other receptacle. Additional ingredients such as caffeine and vitamins may also be injected into the beverage prior to it being dispensed. The water is chilled by a water chiller that forms a sheet of ice over its interior walls to more efficiently store and transfer cold.