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In a large skillet, cook the bacon over medium heat until crisp, about 5 minutes. Remove from the skillet and transfer to the bowl of a slow cooker.
Season the beef with salt and pepper and add each piece to the skillet in an even layer (work in batches if needed). Sear until well browned on each side, about 3 minutes per side. Transfer to the slow cooker.
Sprinkle the flour evenly over the beef and bacon, then stir to combine. Add the onions, carrots, mushrooms and garlic and stir gently to combine.
Add the beef broth, red wine, tomato paste, bay leaf and butter. Place the lid on the slow cooker and cook on low for 8 hours, or until the beef is tender.
Stir in the thyme and serve garnished with the parsley.