I think what you're seeing is 'right' and is how the card is responding to the VRMs being pushed too hard (because of FurMark) and why FurMark is not the right test for these cards.
As I posted before, the new throttling mechanism checks on the VRMs and whether or not they're being pushed too hard. If they report they're being pushed too hard, the card will internally back down PowerPlay settings (this is when you see 40A instead of higher numbers). When the VRMs report no problems is when you see the higher numbers (the correct numbers).
You're getting 60-65A at lower settings because you're at lower settings and that allows the VRMs to not be stressed (which allows FurMark to run fully unthrottled).
Do your GPU temps increase when amperage goes up? If they do, then the amperage reading is correct. I suspect while the GPU can do 1050+MHz with 1.3+V through FurMark, the VRMs cannot handle that much load (even when cooled properly) and that's why you're seeing the invisible hardware throttling.
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