With an increasing share of renewable energy sources in the generation mix due to the energy transition, many problems in the power grid have begun to emerge. To improve stability and ease system management, energy storage is becoming a key component of the power grid. In recent years multiple energy storage technologies have been proposed and gravity energy storage (GES) has been gaining interest. In this article, an analysis of a multi-block GES system with a focus on its potential use in mine shafts has been conducted. A reference system without energy storage has been compared against systems coupled with GES of varying capacity on an annual basis. It was found that the self-coverage of the system and the utilization of renewable energy increased. However, the increase in the value of these performance indicators is significant only up to a certain storage capacity. Differences in system behaviour over the year have been discussed. It was concluded that the proposed GES system could provide simple bulk energy storage capability.