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The rapid adoption of cloud storage and computing services led to unprecedented growth of data centers in the world. As bulk energy consumers, large-scale data centers in the U.S. rack up billions in electricity costs annually. Fortunately, the operational flexibility of data centers can be leveraged to provide valuable frequency regulation services in smart grids to mitigate the indeterminacy of the renewable generation resources. Specifically, this paper aims to leverage computational flexibility provided by servers, such as dynamic voltage frequency scaling and dummy loads. This paper develops a comprehensive framework for data center’s frequency regulation service provision in both hour-ahead market and real-time operations. A risk constrained hour-ahead bidding strategy along with a real-time data center power consumption control algorithm are developed to minimize electricity bills and the total response …