Pat the beef dry with a paper towel and season with sea salt and black pepper.
Heat the olive oil in a heavy-bottomed pot over medium-high heat. Add the beef and sear until browned on all sides, then remove and set aside.
In the same pot, add the mushrooms, pearl onions, and sliced carrots. Sauté for 5-7 minutes until the vegetables begin to soften and develop color.
Stir in the minced garlic and tomato paste, cooking for 1 minute until fragrant.
Pour in the red wine to deglaze the pot, scraping up any browned bits from the bottom with a wooden spoon.
Add the beef bone broth, dried thyme, bay leaf, and the browned beef back into the pot.
Bring the liquid to a gentle simmer, then cover and reduce heat to low. Cook for 60-90 minutes, or until the beef is fork-tender.
Remove the bay leaf and garnish with freshly chopped parsley before serving.