Yes, but when you send the newsletters, your email provider has to process all of the traffic, if you are using your webhost to send them, then I believe it takes part of your bandwidth allocation. If you send through another provider (with pop3) like Gmail or your ISP, then they might have different rules.
Once you get a ton of subscribers, it's a lot of work on mail servers... so I think it depends on who you are using to handle the mail. Some people use newsletter managers because they have mail servers specifically for that reason and offer something like 20,000+ letters a month.
But like I said, unless you have tons of subscribers you could just do it yourself and be ok.
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