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This paper discusses parallelization of elliptic curve cryptography hardware accelerators using elliptic curves over binary fields F2m. Elliptic curve point multiplication, which is the operation used in every elliptic curve cryptosystem, is hierarchical in nature, and parallelism can be utilized in different hierarchy levels as shown in many publications. However, a comprehensive analysis on the effects of parallelization has not been previously presented. This paper provides tools for evaluating the use of parallelism and shows where it should be used in order to maximize efficiency. Special attention is given for a family of curves called Koblitz curves because they offer very efficient point multiplication. A new method where the latency of point multiplication is reduced with parallel field arithmetic processors is introduced. It is shown to outperform the previously presented multiple field multiplier techniques in the cases of Koblitz curves and generic curves with fixed base points. A highly efficient general elliptic curve cryptography processor architecture is presented and analyzed. Based on this architecture and analysis on the effects of parallelization, a few designs are implemented on an Altera Stratix II field-programmable gate array (FPGA).