Minimization of circuit registers: Retiming revisited

We address the following problem: given a synchronous digital circuit, is it possible to construct a new circuit computing the same function as the original one but using a minimal number of registers? We show that the minimal number of registers is the size of the minimal cut on a bi-infinite graph, namely the unfolding of the dependencies in the digital circuit. Furthermore, the construction of such a cut and the corresponding circuit can be done in polynomial time, using a max-flow min-cut result of Orlin for one-periodic bi-infinite graphs. Finally, we show the relation between this construction and the retiming technique introduced by Leiserson and Saxe.