Combine the water, yeast, tomato powder, lemon thyme, sugar, bread flour, semolina flour, and salt in the bowl of your stand mixer fitted with the dough hook. Knead until the dough is elastic.
Add the chopped black olives and olive oil and continue kneading until the olives and oil are completely incorporated. At first, the dough will sort of slop around in the bowl, but then it will start combining.
When the olives and oil are incorporated, cover the bowl and set aside until the dough has doubled in size, about an hour.
Line a baking sheet with parchment paper and preheat the oven to 350°F.
When the dough has doubled, flour your work surface lightly and turn out the dough. Gently de-gas the dough and form the dough into a tight ball and seal the bottom of the ball.
Set the dough, seam-side down, on the prepared baking sheet. Cover with plastic wrap and set aside until the dough is doubled in size and an indent remains when dough is touched lightly with a fingertip.
When the dough has doubled, slash the top of the dough as desired - an X or crosshatch work well. Bake at 350°F until the bread is nicely brown and sound hollow when tapped - about 35 minutes.
Let the bread cool completely on a rack before slicing.
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