You are comparing two entirely unrelated units of measure. You might as well ask how many days there are in PI for all the sense it makes to compare minutes to megabytes.
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On a modern 100Mb (million bits/second) broadband connection a megabyte transfers in 80 milliseconds (1.333E-3 minutes).
1 MB (megabyte) = 1048576 bytes (2^20)
12100000
1024 bytes in 1 KB, 1024 kilobyes in 1 MB 1024 x4 = 4KB x 1024 = 4194304 bytes in 1 MB. (About 4.2 million)
I think its limited to the amount the software can use on your PC. So it may vary from system to system.