- The Pit — A location within Unicron where unfortunate Transformers have their bodies burned away and painfully re-built so they may serve his purposes. The Pit broadly resembles an early script concept of Galvatron's recreation in The Transformers: The Movie (1986), which later actually appeared in Marvel UK.
- The Pit — Roughly analogous to Hell in both Maximal and Predacon belief systems. While the existence of its Heaven-analogue counterpart, the Matrix, is a proven fact, the Pit dwells firmly in the realm of the unproven myth. The myth could possibly be based on the location inside Unicron, though Transformers are often ignorant of the Unicron connection. The Inferno (associated myth, see comments) is said to be extremely dark.
- The Pit — A gigantic facility used to produce and bring life to Predacon protoforms. Located on Cybertron. Apparently named for the Pit myth above.
- "By the Pit!" / "By the Inferno!" — A Predacon exclamatory invective. First metioned by Tarantulas and used by Terrorsaur,  it refers to the Pit myth above. See below for connection.
While outlining the Beast Wars cartoon, Bob Forward and Larry DiTillio created the made-up curse "By the Inferno" so the bad guys could swear. This was changed to "By the Pit" to avoid confusion when a Predacon named Inferno was added to the cast. Having made the Matrix dimension an analogue to Heaven, they made the Inferno/Pit their Hell.
The BW series bible included two facilities that created protoforms, the Matrix and the Pit (names reflecting the heaven/hell dynamic.) These were never mentioned in the series (possibly it was a stand-in concept in case they ever 'needed to answer' to where protoforms came from.) However, 10 years later (2007) the protoform facilities were made canon by a club-exclusive story... despite the canon now having several other sources of protoforms.
The 2004 Universe introduced the Pit within Unicron. It also introduced the idea that there is only one Unicron across all continuities, so the Pit myth would retroactively be about this version of the Pit (probably,) which even includes its own fiery inferno! A connection to/inspiration by the early version Galvatron's reformatting has never been confirmed, and is pure speculation.
- The exclamation could also refer to the Pit facility, viewed strictly from a canon standpoint, but it was originally written as the Hell-analog.