Abstract: Traditional pumped hydro storage (PHS), as a mature large-scale energy storage technology, is currently constrained by factors such as terrain and land resource availability, making it increasingly challenging to meet the rapidly growing demand for renewable energy capacity integration. Against this backdrop, the concept of utilizing underground spaces in decommissioned coal mines for pumped storage power generation has garnered significant attention and is regarded as a promising alternative energy storage solution. To facilitate the industrialization of pumped storage in abandoned mines, this study systematically reviews engineering practices and research progress in this field both domestically and internationally. The key technical challenges and practical constraints encountered in engineering applications are identified. The research focuses on four fundamental technical domains: system design and site selection, hydrological and environmental impact mechanisms, stability and impermeability of underground reservoirs, and the coupled multi-field hydrodynamic characteristics of power station operation. The study further explores the core barriers to industrialization from five perspectives: technological feasibility, economic viability, policy frameworks, environmental sustainability, and societal acceptance. These barriers include the absence of a pilot validation system, difficulties in accurately determining installed capacity, fragmentation of underground space ownership, lack of comprehensive life-cycle environmental assessment mechanisms, and shortages of interdisciplinary professionals possessing cross-sectoral expertise. To address these challenges, a multidimensional coordinated development strategy is proposed, encompassing pathways for key technological advancements, engineering economic optimization strategies, policy and regulatory improvements, ecological and environmental management frameworks, and interdisciplinary innovation systems. The findings aim to provide a scientific foundation and technical roadmap for transitioning pumped storage technology in abandoned coal mines from theoretical research to large-scale engineering applications, thereby promoting the green transformation of mining regions and supporting the clean and efficient development of modern power systems.