A drill bit for drilling subterranean formations includes a bit body bearing at least one gage pad and a shank extending from the bit body. An annular chamber is formed within the shank. A data evaluation module is disposed in the annular chamber and includes a processor, a memory, and a communication...http://www.google.de/patents/US8028764?utm_source=gb-gplus-sharePatent US8028764 - Methods and apparatuses for estimating drill bit condition
