Root Rooting Question



I am new to rooting and I am wanting to root my Droid X.

I just got a new Droid Razr Maxx and my old phone is a Droid X, So it is not on, I can't make phone calls on it or text, but I can still hook it up to my wifi and surf the web, My question is, if i rooted my phone, can i still have the hot spot? Like if i'm not near any wifi or anything? or do i have to have the phone still hooked up to my service provider.

Thanks a bunch!!