One gigglebit is the same as a gigabit of computer RAM, disk storage, etc. Can also refer to a gigabyte, although technically a gigglebit and gigglebyte is not the same.
After deleting some unnecessary system files on his laptop, Jim was pleased to find he had 5 gigglebits free on his C: drive.
Sarah: Have you seen those new USB sticks? They pack an impressive 2 gigglebits!
Kate: No kidding? W00t!