A dynamically or run-time reconfigurable matrix multiplier architecture with a reconfiguration mechanism for computing the product of matrices Xp×r and Yr×q for any integers p, q, r and any item precision b, i.e., bitwidth, ranging from 4 to 64 bits is described. The reconfigurable matrix multiplier uses borrow parallel counters with new circuits, 6—0, and 6—1 and the improved small multiplier library. The reconfigurable matrix multiplier architecture is based on a novel scheme of trading data bitwidth for processing array or matrix size. The matrix multiplier achieves an extra compact, low power, high speed design through the use of a borrow parallel counters and a library of small borrow parallel multiplier circuits. The matrix multiplying processor using area comparable with a single 64×64-b multiplier constructed of very large-scale integrated (VLSI) circuits, can be reconfigured to produce the product of two matrices X(4×4) and Y(4×4) of 8, 16, and 32-bit data items in every 1, 4, and 16 pipeline cycles, respectively, or the product of two 64-b numbers in every pipeline cycle.