This is terribly disappointing:
The broad spectrum sounds recorded in the summer of 1997 are consistent with icequakes generated by large icebergs as they crack and fracture. NOAA hydrophones deployed in the Scotia Sea detected numerous icequakes with spectrograms very similar to “Bloop”. The icequakes were used to acoustically track iceberg A53a as it disintegrated near South Georgia Island in early 2008. Icequakes are of sufficient amplitude to be detected on multiple sensors at a range of over 5000 km. Based on the arrival azimuth, the iceberg(s) generating “Bloop” most likely were between Bransfield Straits and the Ross Sea, or possibly at Cape Adare, a well know source of cryogenic signals.
The original, far more Romantic theory ran as follows:
...the sound nicknamed Bloop is the most likely to come from some sort of animal, because its signature is a rapid variation in frequency similar to that of sounds known to be made by marine beasts. There's one crucial difference, however: in 1997 Bloop was detected by sensors up to 4800 kilometres apart. That means it must be far louder than any whale noise, or any other animal noise for that matter. Is it even remotely possible that some creature bigger than any whale is lurking in the ocean depths?
Apparently, the answer to this last question is a soul-deadening "no".