What does it mean to do a bit?

Excuse me, could you clarify what you mean by 'doing a bit'? In the context of cryptocurrency and finance, is this a colloquial term for executing a small transaction, such as buying or selling a fraction of a coin? Or is it perhaps referring to a specific technical action, like mining a block on a blockchain? I'm interested in understanding the nuances of this phrase and how it might be used in the industry.