From V.E.R.A. -- Virtual Entity of Relevant Acronyms (February 2016) :
BITS Background Intelligent Transfer Service (MS, Windows)From The Jargon File (version 4.4.7, 29 Dec 2003) :
bits pl.n. 1. Information. Examples: ?I need some bits about file formats.? (?I need to know about file formats.?) Compare core dump, sense 4. 2. Machine-readable representation of a document, specifically as contrasted with paper: ?I have only a photocopy of the Jargon File; does anyone know where I can get the bits??. See softcopy, source of all good bits See also bit.