I know that
$$\prod_1^\infty \left(1-\frac{1}{2^n}\right)$$
converges to a positive number because the series $\sum 2^{-n}$ is convergent. Do we know the limit? If so, how?
Aside: I am interested in this product because it describes asymptotically the fraction of $n\times n$ matrices with entries in $\mathbb{F}_2$ that are nonsingular.
This is a tautology but, your product is a $q$-Pochhammer symbol $(\frac{1}{2}; \frac{1}{2})_\infty$. One connection to Jacobi-Theta functions is:
$$\left(\frac{1}{2}; \frac{1}{2}\right)_\infty=\frac{2^{1/24}}{\sqrt{3}}\vartheta_2\left(\frac{1}{6}\pi,\frac{1}{2^{1/6}}\right)$$
where $\vartheta_n$ is the Jacobi theta function.