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Disclosed are various embodiments for attaching an electronic identification device to bits, such as drill bits and driver bits. A bit identification assembly is configured to attach to a bit. The bit identification assembly may include a core having a bit receptacle where a bit is retained. An elec

Disclosed are various embodiments for attaching an electronic identification device to bits, such as drill bits and driver bits. A bit identification assembly is configured to attach to a bit. The bit identification assembly may include a core having a bit receptacle where a bit is retained. An electronic identification device may be attached to the core to facilitate identifying and tracking the bit to which the bit identification assembly is attached.

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1. A system, comprising: a power drill;a bit assembly removably attached to the power drill, the bit assembly comprising: a bit;a bit identification assembly attached to the bit, the bit identification assembly comprising: a core comprising a bit receptacle extending at least partially through the c

1. A system, comprising: a power drill;a bit assembly removably attached to the power drill, the bit assembly comprising: a bit;a bit identification assembly attached to the bit, the bit identification assembly comprising: a core comprising a bit receptacle extending at least partially through the core, the bit being retained in the bit receptacle;an RFID tag attached to an exterior surface of the core, the RFID tag configured to transmit an identification signal; anda cover extending over at least a portion of the RFID tag and at least a portion of the core, wherein the RFID tag is configured to transmit the identification signal through the cover; andan RFID reader configured to receive the identification signal from the RFID tag. 2. The system of claim 1, wherein the bit is a drill bit configured to drill a hole in a workpiece. 3. The system of claim 1, wherein the bit is a driver bit configured to drive a fastener. 4. The system of claim 1, wherein a weight distribution of the bit identification assembly is axially symmetric. 5. The system of claim 1, further comprising a drive shaft attached to the core, the drive shaft being removably attached to the power drill. 6. The system of claim 5, wherein the drive shaft is a portion of the core. 7. The system of claim 1, wherein the bit is removably attached to the power drill. 8. The system of claim 1, wherein the bit receptacle comprises a circular bore. 9. The system of claim 1, wherein the bit receptacle comprises a hexagonal bore. 10. The system of claim 1, wherein the core further comprises a recess where the RFID tag is disposed on the core. 11. An apparatus, comprising: a bit identification assembly configured to attach to a bit, the bit being configured to removably attach to a tool that is configured to rotate the bit, the bit identification assembly comprising: a core comprising a bit receptacle configured to receive the bit; andan electronic identification device configured to be attached to an exterior surface of the core. 12. The apparatus of claim 11, wherein the bit identification assembly further comprises a cover configured to extend over at least a portion of the electronic identification device and at least a portion of the core; and wherein the electronic identification device is configured to transmit an identification signal through the cover. 13. The apparatus of claim 12, wherein the core further comprises an extension on a side of the core that is configured to face a workpiece, the extension being configured to extend through the cover and prevent the cover from contacting the workpiece. 14. The apparatus of claim 12, wherein the cover further comprises a first cover piece and a second cover piece, the first cover piece being configured to extend at least partially over a first face of the core, the second cover piece being configured to extend at least partially over a second face of the core. 15. The apparatus of claim 12, wherein the cover further comprises means for maintaining the electronic identification device in a fixed position with respect to the core. 16. The apparatus of claim 11, wherein the bit identification assembly further comprises a retaining element configured to insert into the core and into the bit, to thereby retain the bit identification assembly to the bit. 17. The apparatus of claim 11, wherein the bit receptacle comprises a circular bore. 18. The apparatus of claim 11, wherein the bit receptacle comprises a hexagonal bore. 19. The apparatus of claim 11, wherein a weight distribution of the bit identification assembly is axially symmetrical. 20. The apparatus of claim 11, wherein the bit is a drill bit configured to drill a hole in a workpiece or a driver bit configured to drive a fastener. 21. An apparatus, comprising: a bit identification assembly configured to attach to a bit, the bit identification assembly comprising: a core comprising a bit receptacle in a first end of the core, the bit receptacle being configured to receive the bit;a drive shaft extending from a second end of the core, the drive shaft being configured to removably attach to a tool that rotates the drive shaft; andan electronic identification device configured to be attached to an exterior surface of the core. 22. The apparatus of claim 21, wherein the bit identification assembly further comprises a cover configured to extend over at least a portion of the electronic identification device and at least a portion of the core; and wherein the electronic identification device is configured to transmit an identification signal through the cover. 23. The apparatus of claim 21, wherein the bit identification assembly further comprises a retaining element configured to insert into the core and into the bit, to thereby retain the bit identification assembly to the bit. 24. The apparatus of claim 23, wherein the retaining element is embodied in the form of a ring. 25. The apparatus of claim 24, wherein the ring further comprises a gap and is expandable. 26. The apparatus of claim 23, wherein the retaining element is embodied in the form of a threaded fastener. 27. The apparatus of claim 23, wherein the retaining element is embodied in the form of a pin. 28. The apparatus of claim 21, wherein the drive shaft is a portion of the core. 29. The apparatus of claim 21, wherein the bit identification assembly further comprises a retaining element configured to insert into the core and into the drive shaft, to thereby retain the drive shaft to the core. 30. The apparatus of claim 21, wherein a weight distribution of the bit identification assembly is axially symmetric. 31. The apparatus of claim 21, wherein the bit is a drill bit configured to drill a hole in a workpiece or a driver bit configured to drive a fastener. 32. The apparatus of claim 21, wherein the core further comprises a recess where the electronic identification device is disposed on the core. 33. An apparatus, comprising: a bit identification assembly configured to attach to a bit, the bit identification assembly comprising: a core comprising a collet at a first end of the core, the collet being configured to grip the bit; andan electronic identification device configured to attach to an exterior surface of the core. 34. The apparatus of claim 33, wherein the bit is configured to extend through a second end of the core and removably attach to a tool configured to rotate the bit. 35. The apparatus of claim 33, wherein the bit identification assembly further comprises a drive shaft extending from a second end of the core, the drive shaft being configured to removably attach to a tool that is configured to rotate the drive shaft. 36. The apparatus of claim 35, wherein the bit identification assembly further comprises a retaining element configured to insert into the core and into the drive shaft to thereby retain the drive shaft to the core. 37. The apparatus of claim 35, wherein the drive shaft is a portion of the core. 38. The apparatus of claim 33, wherein the bit identification assembly further comprises a collar configured to radially contract a plurality of jaws of the collet upon the collar moving towards the jaws of the collet. 39. The apparatus of claim 38, wherein: the core further comprises a male threaded portion;the collar further comprises a female threaded portion that corresponds to the male threaded portion of the core; andthe collar is further configured to move towards the jaws of the collet by the female threaded portion of the collar rotating with respect to the core. 40. The apparatus of claim 33, wherein the bit identification assembly further comprises a cover configured to extend over at least a portion of the electronic identification device and at least a portion of the core; and wherein the electronic identification device is further configured to transmit an identification signal through the cover. 41. The apparatus of claim 40, wherein the bit identification assembly further comprises a cover retainer configured to retain the cover to the core. 42. The apparatus of claim 40, wherein the core further comprises a recess where the electronic identification device is located on the core. 43. The apparatus of claim 33, wherein the bit is a drill bit configured to drill a hole in a workpiece or a driver bit configured to drive a fastener.