Comment by NitpickLawyer

There's two variants of this (or, as the joke goes, for very big values of bit):

Ternary Bonsai 27B uses ternary {−1, 0, +1} weights with FP16 group-wise scaling, giving a true 1.71 effective bits per weight.

1-bit Bonsai 27B uses binary {−1, +1} weights with the same group-wise scaling, giving 1.125 effective bits per weight.