A data acquisition module comprising a base sized and configured for disposition within a shank of a drill bit bore and an extension protruding therefrom having electrical contacts on an exterior surface thereof for connection to electrical contacts on an interior surface of a sub secured to the bit shank. A drill bit equipped with a data acquisition module, a bottom hole assembly including a drill bit bearing a data acquisition module operably coupled to a sub secured to the drill bit, and a method of transferring data from a data acquisition module carrying a data acquisition module to a sub secured to the drill bit.