The Chromebit is a Chrome OS based dongle. 2 years ago (and recently, as well) Google released the Chromecast which is also a dongle, but not exactly a Chrome OS based. The new Chromebit dongle is a Chrome OS operating system based and that means it is in the same line of products (all the above mentioned except the Chromecast) which can be devices managed by the Google Device Management Console (a nice centralized management tool for all Chrome OS based devices, which will allow you, among other things, to put your Chromebit in Kiosk mode).
The Chromebit, like his older brother, the Chromebox, sounds perfect for Chromebox digital signage (this time it will be Chromebit digital signage) since it is compact Chrome OS based. Asus Compute Stick Chromebit comes with a CS10 RockChip 3288-C processor, 2 GB RAM, 16GB storage, HDMI port, USB port, dual band a/b/g/n/ac 802.11 WiFi, Bluetooth 4.0 and HDMI extender cable. You can watch the Chromebit unboxing video here.
The Chromebit stick is officially offered in 85 USD in the U.S.A. but when I was trying to purchase one, I only found that in Amazon.com for 85 USD (!). That was higher than an average Chromebox price. I guess that since it is still hard to find, we are still experiencing this overreacted price.
I won’t tell you to go it. Rather than that, I’ll tell you to be patient and wait for a while. The prices will become reasonable very soon. Take your time.