This paper presents a hardware algorithm for variable precision multiplication on FPGA using a parallel multiplier to compute multiplications of two n×m bit numbers in variable precision floating point format. The proposed method aims to reduce memory usage and computation delay compared to traditional algorithms like Karatsuba while leveraging resources in Xilinx FPGA circuits. The resulting architecture is designed for operand sizes from 1×64 bits to 64×64 bits, achieving a cycle time of 33 ns.