Again, the most promising option would be to simply attach our installation to an existing reservoir. We don't use any additional water, we just borrow it. For an ample sized reservoir, each cycle would just raise and lower the water level by an inch or so. Another promising option is that we can even use the ocean as an upper reservoir. Salt water can be accommodated -- See our notes about the Okinawa Yanbaru Station.
There are more details in our white paper posted on the website.
Then the total energy capacity is V * rho * g * h, so that energy store is proportional to height, while tunnel boring price is roughly constant as long as tunnel boring volume of the reservoirs is much larger than the volume of vertical shafts.
I realize its a bit oversimplified but if we consider 2 prices: p1 price per volume for boring horizontally (for reservoirs), and p2 price per volume for boring vertically, then increasing the reservoir size by a volume delta V, requires boring 2 * delta V (upper and lower reservoir), while boring vertically the difference in height depends on the diameter...
But it's certainly not out of the question to go deeper instead.