Pat beef cubes dry and season with salt and pepper. Heat Dutch oven over medium-high heat and cook diced bacon until crispy, about 5 minutes. Remove bacon with slotted spoon. Sear beef in batches in bacon fat for 2-3 minutes per side until deep brown. Do not crowd the pan to avoid steaming. Set beef aside.
2.5 lbs beef chuck, 4 oz bacon, salt, black pepper
Lower heat to medium. Add chopped onion and cook until softened, about 5 minutes. Stir in minced garlic and tomato paste; cook for 1 minute until fragrant. Pour in 1 cup of red wine, scraping up browned bits from the pot's bottom.
1 large yellow onion, 4 cloves garlic, 2 tbsp tomato paste, 2 cups dry red wine
Return beef and bacon to the pot. Add remaining 1 cup red wine, beef broth, and fresh thyme sprigs tied together. Bring to a simmer, cover with lid, and transfer to 325°F oven. Braise for 1.5 hours without opening the lid.
2.5 lbs beef chuck, 4 oz bacon, 2 cups dry red wine, 2 cups beef broth, 3 sprigs fresh thyme
After 1.5 hours, stir in carrots, mushrooms, and pearl onions (or chopped yellow onion). Return to oven uncovered and braise for another 1 to 1.5 hours until beef is fork-tender and sauce thickened. Skim fat from surface halfway through if needed.
3 large carrots, 8 oz mushrooms, 1 large yellow onion
Remove pot from oven and let rest for 10 minutes. If sauce is too thin, simmer uncovered over medium heat on stovetop for 10-15 minutes until it coats the back of a spoon. Remove thyme sprigs, taste, and adjust salt before serving.
3 sprigs fresh thyme, salt