Abstract: A downhole telemetry system is described for optically communicating to the surface operating parameters of a drill bit during ongoing drilling operations. The downhole telemetry system includes sensors mounted with a drill bit for monitoring at least one operating parameter of the drill bit and generating a signal representative thereof. The downhole telemetry system includes means for transforming and optically communicating the signal to the surface as well as means at the surface for producing a visual display of the optically communicated operating parameters of the drill bit.