This has a number of meanings in the computer world.
This is a unit of storage capacity or rate of transmission. For example - "our highspeed link could transfer 3 library of congresses [sic? in 3.5 seconds".
$ host -t LOC waikato.ac.nz waikato.ac.nz. LOC 37 48 30.000 S 175 17 36.000 E 66.00m 3000m 30m 10m
xtraceroute(1) will use these records if it can find them. Unfortunately not many sites use them yet.
The is a incredibly poor measure of the size of a project sometimes used by Management in SoftwareEngineering.
2 pages link to LOC: