Any sane plan would be to have more than one weight. When the first weight hits the bottom, it would release from the cable and another weight up top would grab the cable and start dropping. To store energy, the top weight would get winched up, and when it hit the top it would lock into place somehow and the next weight at the bottom of the shaft would engage the lifting cable, etc. The cable would have to follow a circular track, rather than having 1KM of cable for each weight.