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An earth-boring rotary drill bit includes a bit body configured to carry one or more cutters for engaging a subterranean earth formation. The bit body includes a particle-matrix composite material having a plurality of hard particles dispersed throughout a matrix material, the particle-matrix composite material having a first coefficient of thermal expansion. The bit body also includes insert disposed in the bit body. The insert has a second coefficient of thermal expansion that is greater than the first coefficient of thermal expansion of the matrix.