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A bit is short for “binary digit”, and is either a one or a zero. Bits are the atomic unit of digital data. All computer data is stored as bits. Bits are grouped into sets called bytes, which have 8 bits each.
You may be familiar with megabytes (MB) and gigabytes (GB). A megabyte is a million bytes or eight million bits. Likewise, a gigabyte is a billion bytes or eight billion bits. This means that when a file is 1MB large, it consists of 8 million ones and zeros.