A hoisting system of this disclosure includes a drawworks, a crown block or a compensator, a traveling block and at least one sheave assembly connected to the crown block or compensator in “Low Load/High Speed” mode and connected to the traveling block in “High Load/Low Speed” mode. A method to lift a load using a hoisting system of this disclosure uses a drawworks, a crown block or a compensator, a traveling block and at least one sheave assembly connected to the crown block or compensator in “Low Load/High Speed” mode and connected to the traveling block in “High Load/Low Speed” mode.