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It is lost upon me that there would/could be some energy loss.
However, since black holes have existed at least very shortly after the Big Bang, then it is conceivable that at least some of that energy was consumed. Further, if the black holes existed then, and they are moving out, at least as fast as the electromagnetic radiation, and those black holes collide, thus becoming bigger and stronger with each successive collision, is it not conceivable that they would be strong enough to consume the energy around it.