The value of a PowerShell variable that was not assigned a value (yet) is $null. The value of $null itself is the C# value null.
$null can be assigned any value; yet, the value of $null remains unchanged:
PS C:\> $null = mkdir temp-dir
PS C:\> $null
Assigning a value of an expression to $null is typically used to hide the returned result on the console. In order to be more explicit about this intention, some prefer to write mkdir temp-dir | out-null instead.