The bit-sliding paper of Jean et al. (CHES 2017) showed that the smallest-size circuit for SPN based block ciphers such as AES. SKINNY and PRESENT can be achieved via bit-serial implementations. Their technique decreases the bit size of the datapath and naturally leads to a significant loss in latency (as well as the maximum throughput). https://parisnaturalfoodes.shop/product-category/anise-all-one-toothpaste/