diff --git a/cmd/cmd.go b/cmd/cmd.go
index 17cac7c6c..4c628d01d 100644
--- a/cmd/cmd.go
+++ b/cmd/cmd.go
@@ -11,6 +11,7 @@ import (
 	"log"
 	"os"
 	"path"
+	"regexp"
 	"runtime"
 	"runtime/pprof"
 	"time"
@@ -27,6 +28,7 @@ var (
 	cpuProfile    = pflag.StringP("cpuprofile", "", "", "Write cpu profile to file")
 	memProfile    = pflag.String("memprofile", "", "Write memory profile to file")
 	statsInterval = pflag.DurationP("stats", "", time.Minute*1, "Interval between printing stats, e.g 500ms, 60s, 5m. (0 to disable)")
+	dataRateUnit  = pflag.StringP("stats-unit", "", "bytes", "Show data rate in stats as either 'bits' or 'bytes'/s")
 	version       bool
 	logFile       = pflag.StringP("log-file", "", "", "Log everything to this file")
 	retries       = pflag.IntP("retries", "", 3, "Retry operations this many times if they fail")
@@ -293,4 +295,11 @@ func initConfig() {
 			}
 		}()
 	}
+
+	if m, _ := regexp.MatchString("^(bits|bytes)$", *dataRateUnit); m == false {
+		fs.ErrorLog(nil, "Invalid unit passed to --stats-unit. Defaulting to bytes.")
+		fs.Config.DataRateUnit = "bytes"
+	} else {
+		fs.Config.DataRateUnit = *dataRateUnit
+	}
 }
diff --git a/docs/content/docs.md b/docs/content/docs.md
index d9d29905b..502bb8169 100644
--- a/docs/content/docs.md
+++ b/docs/content/docs.md
@@ -396,6 +396,19 @@ This sets the interval.
 
 The default is `1m`. Use 0 to disable.
 
+### --stats-unit=bits|bytes ###
+
+By default data transfer rates will be printed in bytes/second.
+
+This option allows the data rate to be printed in bits/second.
+
+Data transfer volume will still be reported in bytes.
+
+The rate is reported as a binary unit, not SI unit. So 1 Mbit/s
+equals 1,048,576 bits/s and not 1,000,000 bits/s.
+
+The default is `bytes`.
+
 ### --delete-(before,during,after) ###
 
 This option allows you to specify when files on your destination are
diff --git a/fs/accounting.go b/fs/accounting.go
index f04d2e423..c2bfedaff 100644
--- a/fs/accounting.go
+++ b/fs/accounting.go
@@ -129,6 +129,11 @@ func (s *StatsInfo) String() string {
 	}
 	dtRounded := dt - (dt % (time.Second / 10))
 	buf := &bytes.Buffer{}
+
+	if Config.DataRateUnit == "bits" {
+		speed = speed * 8
+	}
+
 	fmt.Fprintf(buf, `
 Transferred:   %10s (%s)
 Errors:        %10d
@@ -136,7 +141,7 @@ Checks:        %10d
 Transferred:   %10d
 Elapsed time:  %10v
 `,
-		SizeSuffix(s.bytes).Unit("Bytes"), SizeSuffix(speed).Unit("Bytes/s"),
+		SizeSuffix(s.bytes).Unit("Bytes"), SizeSuffix(speed).Unit(strings.Title(Config.DataRateUnit)+"/s"),
 		s.errors,
 		s.checks,
 		s.transfers,
@@ -438,10 +443,21 @@ func (acc *Account) String() string {
 		where := len(name) - 42
 		name = append([]rune{'.', '.', '.'}, name[where:]...)
 	}
-	if b <= 0 {
-		return fmt.Sprintf("%45s: avg:%7.1f, cur: %6.1f kByte/s. ETA: %s", string(name), avg/1024, cur/1024, etas)
+
+	if Config.DataRateUnit == "bits" {
+		cur, avg = cur*8, avg*8
 	}
-	return fmt.Sprintf("%45s: %2d%% done. avg: %6.1f, cur: %6.1f kByte/s. ETA: %s", string(name), int(100*float64(a)/float64(b)), avg/1024, cur/1024, etas)
+
+	done := ""
+	if b > 0 {
+		done = fmt.Sprintf("%2d%% done, ", int(100*float64(a)/float64(b)))
+	}
+	return fmt.Sprintf("%45s: %s%s, ETA: %s",
+		string(name),
+		done,
+		SizeSuffix(cur).Unit(strings.Title(Config.DataRateUnit)+"/s"),
+		etas,
+	)
 }
 
 // Close the object
diff --git a/fs/config.go b/fs/config.go
index 89556f23e..4da97e53a 100644
--- a/fs/config.go
+++ b/fs/config.go
@@ -301,6 +301,7 @@ type ConfigInfo struct {
 	IgnoreSize         bool
 	NoTraverse         bool
 	NoUpdateModTime    bool
+	DataRateUnit       string
 }
 
 // Find the config directory