Systems and methods are disclosed for receivers of transmit chains of a MIMO system to receive transmit power information and to compute channel characteristics of the transmit chains to enable dynamic adjustment of the transmit power on the transmit chain to optimize an overall data throughput while meeting a maximum emission limit, such as a regulatory limit on emitted power. The transmit power and the data rate on the transmit chains may be independently controlled. The receiver of the MIMO system may determine the new transmit power for the transmit chains from the computed channel characteristics and the current transmit power of the transmit chains. Alternatively, the receiver may transmit the computed channel characteristics of the transmit chains to the transmitter for the transmitter to determine the new transmit power for the transmit chains. The transmitter may use the new transmit power to transmit new data on the transmit chains.