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Longman Dictionary of Contemporary English
megabit
noun
EXAMPLES FROM CORPUS
▪ Current tests show a maximum speed of about 6 megabits per second for downloads and about 640 kilobits per second upstream.
▪ Its initial capacity will be 2 megabits per second.
▪ Local-area networks transmitting data at speeds of between 10 megabits per second and 100 megabits per second also exist.
▪ Private local-area networks on the Internet operate at data transmission speeds of 10 to 100 megabits per second.
▪ The network provides access speeds of 64 kilobits per second and 2 megabits per second.
▪ The Stuttgart Computing Center has successfully operated long-distance links using 100 megabits per second of this capacity.
▪ These networks connect universities and research institutions at data transmission speeds ranging from 64 kilobits per second to 2 megabits per second.
Wiktionary
megabit

n. 1 (context computing English) 106 = 1,000,000 bits or 125,000 bytes (125 kilobytes) 2 (context computing English) 220 = 1,048,576 bits; a mebibit

WordNet
megabit

n. one million bits

Wikipedia
Megabit

The megabit is a multiple of the unit bit for digital information. The prefix mega (symbol M) is defined in the International System of Units (SI) as a multiplier of 10 (1 million), and therefore

1 megabit = = = 1000 kilobits.

The megabit has the unit symbol Mb or Mbit.

The megabit is closely related to the mebibit, a unit multiple derived from the binary prefix mebi (symbol Mi) of the same order of magnitude, which is equal to = , or approximately 5% larger than the megabit. Despite the definitions of these new prefixes for binary-based quantities of storage by international standards organizations, memory semiconductor chips are still marketed using the metric prefix names to designate binary multiples.

Using the common byte size of eight bits and the standardized metric definition of megabit and kilobyte, 1 megabit is equal to 125 kilobytes (kB) or approximately 122 kibibytes (KiB).

The megabit is widely used when referring to data transfer rates of computer networks or telecommunications systems. Network transfer rates and download speeds often use the megabit as the amount transferred per time unit, e.g., a 100 Mbit/s ( megabit per second) Fast- Ethernet connection, or a 10 Mbit/s Internet access service, whereas the sizes of data units (files) transferred over these networks are often measured in megabytes. To achieve a transfer rate of one megabyte per second one needs a network connection with a transfer rate of eight megabits per second.

Usage examples of "megabit".

The very first leg of the trip is by radio, and that he could hack in theory, but it's coded with megabit primes and not even he could break that.

Once those 5 billion megabits were gone, they’d be gone for good—or until the next slower-than-light freighter arrived.