What does MB mean?

MegaByte (MB) is a unit of digital information or computer storage. Although the prefix mega- means 1000000 or (10⁶), the term MegaByte has historically been used to refer to either 10⁶ bytes or 2²⁰ bytes, dependent upon context, in the fields of computer science and information technology.

Base 10 (Decimal)
1 megabyte (MB) = 10⁶ bytes = 1,000,000 bytes

Base 2 (Binary)
1 mebibyte (MiB) = 2²⁰ = 1,048,576 bytes

Note:
Technically, a megabyte (MB) is a power of ten, while a mebibyte (MiB) is a power of two, which is appropriate for binary machines.

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