In the last decade, the improvements in VLSI levels and image sensor technologies have led to a frenetic rush to provide image sensors with higher resolutions and faster frame rates. As a result, video devices were designed to capture real-time video at high-resolution formats with frame rates reaching 1,000 fps and beyond. These ultrahigh-speed video cameras are widely used in scientific and industrial applications, such as car crash tests, combustion research, materials research and testing, fluid dynamics, and flow visualization that demand real-time video capturing at extremely high frame rates with high-definition formats. Therefore, data storage capability, communication bandwidth, processing time, and power consumption are critical parameters that should be carefully considered in their design. In this paper, we propose a fast FPGA implementation of a simple codec called modulo-pulse code modulation (MPCM) which is able to reduce the bandwidth requirements up to 1.7 times at the same image quality when compared with PCM coding. This allows current high-speed cameras to capture in a continuous manner through a 40-Gbit Ethernet point-to-point access.