There is a relevant Wikipedia page about minifloats [0]
> The smallest possible float size that follows all IEEE principles, including normalized numbers, subnormal numbers, signed zero, signed infinity, and multiple NaN values, is a 4-bit float with 1-bit sign, 2-bit exponent, and 1-bit mantissa.
> The smallest possible float size that follows all IEEE principles, including normalized numbers, subnormal numbers, signed zero, signed infinity, and multiple NaN values, is a 4-bit float with 1-bit sign, 2-bit exponent, and 1-bit mantissa.
[0] https://en.wikipedia.org/wiki/Minifloat