Dynamically controlling voltage for access operations to magneto-resistive random access memory (MRAM) bit cells to account for ambient temperature is disclosed. An MRAM bit cell process variation measurement circuit (PVMC) is configured to measure process variations and ambient temperature in magnetic tunnel junctions (MTJs) that affect MTJ resistance, which can change the write current at a given fixed supply voltage applied to an MRAM bit cell. These measured process variations and ambient temperature are used to dynamically control a supply voltage for access operations to the MRAM to reduce the likelihood of bit errors and reduce power consumption. The MRAM bit cell PVMC may also be configured to measure process variations and/or ambient temperatures in logic circuits that represent the process variations and ambient temperatures in access transistors employed in MRAM bit cells in the MRAM to determine variations in the switching speed (i.e., drive strength) of the access transistors.