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Yes, believe it or not. I am actually working on some recipes that do just that (see Cold Brew Ice Cream). So far, in my research I have come across some indications that if you are going to do this, using whole beans may be the way to go. One consideration is you are going to extract some different flavors this way because milk has some fat in it. When you brew in water, only water soluble compounds are extracted. Milk will pull some of the fat soluble compounds too. If you do try this–please remember to brew in the fridge!