Each line of text is drawn as a single bitmap of 60 characters. 34 lines fit on the screen.
I'd like to add TEXTVGA mode too. That would use two bytes per character instead of one but then I could add vt100 escape sequence support for colors. I'm assuming the data format for TEXTVGA mode is the same as described here: en.m.wikipedia.org/wiki/VGA-compatible_text_mode#Data_arrangement
It might be nice to add support for drawing text using these formats since it takes up so little ram. I'll try to make a pull request when I get the hang of both formats.