Approximation circuitry utilizes bitwise operations on operands to provide approximate results of operations on the operands. A significant digit detector utilizes bitwise operations on the received operands to identify or detect approximate most significant bits in the operands, and then utilizes these identified most significant bits to generate approximate values for each of the operands. Intermediate registers receive and store the approximate values from the significant digit detector. A combinatorial network, such as a lookup table (LUT), thereafter utilizes the approximate values stored in the intermediate registers to generate an approximate result. The approximate result has a value that is an approximate value of a given operation, such as multiplication or division, on the operands provided to the significant digit detector.