Gravitational waves are emitted when two black holes collide, representing a loss of mass that is converted into energy. These waves travel through the universe and are not significantly absorbed by matter, making the universe largely transparent to them. While gravitational waves can transfer a negligible amount of energy to objects they encounter, this interaction is minimal due to the vast emptiness of space. The energy carried by these waves contributes to the overall energy of the universe, but does not add mass to objects upon absorption. Ultimately, the mass lost in black hole mergers is conserved as energy in the form of gravitational waves, which may continue to propagate indefinitely.