What are bits in slang?

I'm curious, could you explain what the term 'bits' refers to in the context of slang? I've heard it used in various online communities and I'm wondering if it has a specific meaning or if it's just a general term that can vary depending on the context. I'm particularly interested in how it's used in the world of cryptocurrency and finance, if it has any relevance there. Can you shed some light on this for me?