• Step 1: In a large bowl, combine the beef cubes, red wine, 1 tablespoon of the olive oil, and 1 teaspoon of salt. Cover and marinate in the refrigerator for at least 4 hours or up to 24 hours.
• Step 2: Preheat the oven to 325°F. Drain the beef, reserving the marinade. Pat the beef dry with paper towels.
• Step 3: In a large Dutch oven or heavy-bottomed pot, cook the bacon over medium heat until crispy, about 5 minutes. Remove the bacon and set aside, leaving the fat in the pot.
• Step 4: In batches, brown the beef in the bacon fat over medium-high heat, about 5 minutes per batch. Transfer the browned beef to a plate.
• Step 5: Add the remaining 1 tablespoon of olive oil to the pot, then add the onions and carrots. Cook over medium heat until the vegetables are softened, about 10 minutes. Add the garlic and cook for 1 minute more.
• Step 6: Stir in the tomato paste and cook for 2 minutes. Pour in the reserved marinade and beef broth, and bring to a boil. Add the thyme, bay leaves, and the browned beef with any accumulated juices. Cover the pot and transfer to the preheated oven.
• Step 7: Braise the beef in the oven for 2 to 2 1/2 hours, until the meat is very tender.
• Step 8: In a separate skillet, sauté the mushrooms in the butter over medium-high heat until they are lightly browned, about 5 minutes. Set aside.
• Step 9: Remove the pot from the oven and place it on the stovetop. In a small bowl, whisk together the flour and 1/2 cup of the hot cooking liquid until smooth. Stir this mixture back into the pot and bring to a simmer over medium heat. Cook for 5 to 10 minutes, until the sauce is thickened.
• Step 10: Stir in the sautéed mushrooms and the reserved bacon. Taste and adjust the seasoning with salt and pepper as needed.