Cooler Master's MasterLiquid ML240P Mirage is an all-around solid closed-loop cooler. While it doesn't lead the pack in terms of raw performance, it does put up respectable numbers for an RGB LED-equipped liquid cooler. The fact that it performs as well as it does is even more surprising when you consider it is one of the quietest liquid coolers I have ever tested. Looking at the long list of closed-loop coolers, they all ended up anywhere from 2–10 dBA louder, with the majority of them being 4–8 dBA louder. Thus while the ML240P Mirage can't bring home the performance crown, it can lay claim to the title of the quietest closed-loop cooler. It is also quieter at full tilt than many air coolers, placing it between the Noctua NH-D15 and D15S in that regard.

Taking all that into account, I can say Cooler Master has struck a fairly good balance between performance, noise, and aesthetics (if you like RGB illumination). I myself prefer quiet coolers, and knowing this offering will never be intrusive is quite nice. The build quality of the ML240P Mirage also appears above average with no issues in regards to fit or finish. Memory and graphics card clearance are also perfect with no interference to speak of. Only the two-year warranty Cooler Master backs the unit with feels lacking as other brands are stepping up, offering three years, or in the case of Corsair five years.

The biggest issue for this cooler is its high price with the MSRP being $159.99. It is just too expensive for a closed-loop cooler. While the US trade tariffs do not help, it doesn't change the fact that more affordable RGB-equipped coolers are available with many costing $20–$30 less. It is even possible to take the next step towards custom water cooling in the form of Swiftech's Drive X3 240 mm and 360 mm kits which cost slightly less and slightly more respectively when compared to the ML240P Mirage while being proper expandable loops. There is also the fact that high-end air coolers like Noctua's NH-D15, NH-D15S, be quiet!'s Dark Rock Pro 4, and CRYORIG R1 Ultimate all offer a sizable lead in cooling performance with fairly similar noise levels at $50–$70 less. Granted, many of these air coolers lack RGB illumination.

That said, one area Cooler Master needs to improve in drastically is their included instructions. Currently, anyone buying this unit will be greeted with two tiny pages showing them how to set up the ARGB lighting hub. While likely not a problem for seasoned builders, such instructions are likely a headache for first-timers. Worse yet, they do offer a proper guide to setting it all up, it's just hidden on the download page of the product page, along with the MasterPlus+ software which controls the unit, but is only mentioned once on the box. While I do applaud Cooler Master's push to offer a versatile ARGB lighting system that can connect via 5 V ARGB, 12 V RGB, or USB, the documentation in the box needs to be better.

In summation, Cooler Master's MasterLiquid ML240P Mirage is a good-looking, exceptionally quiet all-in-one liquid cooler that performs fairly well while delivering a plethora of lighting options. Just be prepared to pay a hefty price and know that you will want to go to their website to get the software and guide to fully set up and get the most out of your new purchase.