Nats, bits, and ln 2
Information has two units, and $\ln 2$ is the exchange rate. Entropy in base 2 is denominated in bits; in base $e$, in nats; and
$$1 \text{ bit} \;=\; \ln 2 \text{ nats} \;=\; 0.6931\ldots \text{ nats}.$$The bookkeeping matters daily. Deep-learning frameworks compute cross-entropy with natural logarithms, so training loss arrives in nats per token; language-modeling papers report bits per character or byte. Divide by $\ln 2$ to convert: a model at $0.90$ nats/token is at $1.30$ bits/token. Perplexity ties the two together as $e^{H_{\text{nats}}} = 2^{H_{\text{bits}}}$. And the floor under all of it is Shannon’s source-coding theorem: no code beats the entropy in bits per symbol on average — a fair coin costs one bit, which is to say $\ln 2$ nats, per toss.1
1
The number itself
The constant is the alternating harmonic series,
$$\ln 2 \;=\; 1-\frac12+\frac13-\frac14+\cdots,$$convergent but only conditionally — Riemann’s rearrangement theorem applies, and concretely: take one positive term per two negatives and the sum halves,
$$1-\frac12-\frac14+\frac13-\frac16-\frac18+\cdots \;=\; \frac{\ln 2}{2}.$$The same series reordered, a different number: a fact worth carrying around as a portable warning about infinite sums.
For actual digits, sum the geometric-flavored series
$$\ln 2 \;=\; \sum_{k\ge1}\frac{1}{k\,2^k},$$which delivers roughly one binary digit per term — pleasingly, the series for the price of a bit converges at about a bit per step.