Pat the beef stew meat dry with paper towels and season evenly with sea salt and black pepper.
Heat the olive oil in a heavy-bottomed pot or Dutch oven over medium-high heat.
Add the beef to the pot and sear until a deep brown crust forms on all sides, then remove the beef and set aside.
In the same pot, add the diced carrots, onion, and celery, sautéing for 5-7 minutes until the vegetables are softened and fragrant.
Stir in the minced garlic and tomato paste, cooking for 1 minute while stirring constantly to prevent burning.
Pour in the red wine to deglaze the pan, using a wooden spoon to scrape up all the flavorful browned bits from the bottom.
Return the beef to the pot and add the beef broth, dried thyme, and the bay leaf.
Bring the liquid to a gentle simmer, then cover the pot with a tight-fitting lid and reduce heat to low.
Cook for 90 minutes to 2 hours, or until the beef is tender enough to be easily pierced with a fork.