1. A method of reducing power consumption in a multi-port memory device having a plurality of serial ports, the method comprising: monitoring the transmission and reception of data on a plurality of serial ports in a memory device; for each of the monitored plurality of serial ports, detecting when a shut-off criteria is satisfied at a serial port; and when the shut-off criteria is satisfied at the serial port, powering down the serial port without affecting the operation of the plurality of other serial ports of the memory device.